Welcome to our five-step guide to the financial aid process. Our FAFSA school code is 001241.
Step 1: Apply for Federal Aid
Free Application for Federal Student Aid (FAFSA)
US citizens, permanent residents, and other eligible non-citizens must submit the Free Application for Federal Student Aid (FAFSA). This application determines your eligibility for federal, state, and institutional sources of financial aid. Please complete the online FAFSA application by March 1st for fall semester admission.
You must apply for a personal identification number (PIN) before you begin. This pin number allows you to access and sign the online FAFSA application. In Section 6, please include our School Code: 001241 so that we receive your financial information from federal processors.
After a few weeks, the US Department of Education will send you a Student Aid Report (SAR) summarizing the information reported on the FAFSA. Please review this report online and make appropriate corrections if necessary.
International and non-degree students should skip this step. You are not eligible for US federal financial aid, but you should submit the Monterey Institute Financial Aid Application as explained in Step 2.
Step 2: Complete the Institute Financial Aid Application
In addition to the FAFSA, all students interested in financial aid must complete the Monterey Institute Financial Aid Application. Once you have completed the FAFSA application, we will email you the link to our internal application. We will contact you at the email address that you reported on the FAFSA, so please check this email address regularly. International and non-degree students should contact us to receive this application.
After reviewing your FAFSA and the Monterey Institute Financial Aid Application, we may ask you to submit additional documentation, such as a signed copy of your taxes or verification of citizenship status. We are required by federal regulations to verify this information before issuing a financial aid award letter. We will contact you via email if we require additional information.
Step 3: Receive a Financial Aid Award Letter
If you are an admitted student and your financial aid files are complete by March 1, you will receive a financial aid award letter via email by April 1. Please review the award letter carefully because it outlines the types of financial aid you have been offered. Follow the instructions accompanying the award letter to accept or decline your offered awards.
Step 4: Complete Additional Requirements
To receive federal student loans, you must complete the Master Promissory Note (MPN) and Entrance Counseling at www.studentloans.gov to familiarize yourself with the loan and repayment process. You must also complete the Student Certification page from the Financial Aid Handbook accompanying your financial aid award letter. Loan funds will not be disbursed until you complete these requirements.
Step 5: Receive Funding
If you have completed all of the required steps and are registered for classes, your financial aid will be released at the beginning of the semester. We will credit your student account for the total amount. For students whose financial aid amount exceeds tuition and fees, we will issue you a refund check within the first two weeks of classes. Please note that we cannot release the refund check before the first day of class. The earlier you complete steps 1 through 4, the earlier the funds will be available.